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ATM or Automated Teller Machine is believed to have been first developed in New York by Luther George Simjian and used by the City Bank of New York in 1939 though the system had to be discontinued as it was not popular with customers. The first official use of the ATM was in London, UK by Barclays Bank with the first machine being installed on June 27, 1967. T
The machine was developed by the British company De La Rue with John Shepherd-Barron being credited with its invention although the claim is often disputed as Luther George Simjian had registered a patent for his device in the 1930s.
The first ATM's could be used by way of tokens that could be used only once and which after inserting were retained by the machine. The introduction of the personal identification number (PIN) that could be stored on magnetic stripes embedded on cards used to access the machines led to the ATM system being widely used.
The machine was developed by the British company De La Rue with John Shepherd-Barron being credited with its invention although the claim is often disputed as Luther George Simjian had registered a patent for his device in the 1930s.
The first ATM's could be used by way of tokens that could be used only once and which after inserting were retained by the machine. The introduction of the personal identification number (PIN) that could be stored on magnetic stripes embedded on cards used to access the machines led to the ATM system being widely used.
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